Tim Morgan’s latest piece is worth reading.
However, I wonder whether his perception is seen generally. The opening paragraphs introduce his idea,
A new ‘heavenly body’ has entered the cosmology of political and corporate decision. This new influence is the emerging reality that the economy is turning out, after all, to be an energy system, and that long-accepted ideas to the contrary are fallacious.
The concept of limits is replacing the paradigm of ‘infinite growth’.
Where decision-making is concerned, this emerging reality isn’t likely to have an immediately transformational effect. Established nostrums can have a tenacity that long out-lasts the demonstration of their falsity.
We’re not, then, about to see sudden, open and actioned acceptance of the fact that the economy is an energy rather than a monetary system.
Rather, we can expect to see energy reality exert an increasing gravitational pull on the tide of decisions and planning, most obviously in government and business. Policy statements may not change, but the thinking that informs planning and strategy undoubtedly will.
This gravitational effect is starting, as of now, to re-shape perceptions of the present, change ensuing “narratives” of the future, and trigger a process of realignment towards the implications of a world with meaningful constraints
Tim assumes that awareness of the reality of the economic system will influence decision-makers in top-down organisations. I find that difficult to believe, bearing in mind that a shrinking economy has no growth in it. I think the change is now occurring naturally, from the bottom up. Yet to be seen because it would be so threatening to capitalism. This is not me making a political statement, it will be how things will be.